Wed, May 12, 2010
MANILA, May 12 (Xinhua) -- The Philippine net foreign direct investments (FDI) in February recorded an inflow of 209 million U. S. dollars, five percent higher than last year's level, on back of the repayment of trade credits extended earlier by Philippine subsidiaries and affiliates to parent companies abroad.
The Philippine central bank said Wednesday the bulk of the inflows during the month came from the other capital account, which amounted to 177 million U.S. dollars. Equity capital and reinvested earnings also registered net inflows of 25 million U.S. dollars and 7 million U.S. dollars.
Net FDI inflows in the first two months of the year hit 310 million U.S. dollars, down 47.6 percent on year. Equity capital during the two-month period reversed to a net outflow of 2 million U.S. dollars, as investors were cautious ahead of the May national elections. Equity capital inflows financed the semiconductor business, power generation projects, financial intermediation, and real estate sectors. Most investors are from the U.S., Switzerland, and Singapore.
